CarMax, Inc. $KMX Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in CarMax, Inc. by 5.4%, owning approximately 239,344 shares valued at $18.6 million as of the latest SEC filing.
• CarMax reported earnings of $1.38 per share, exceeding estimates, with revenues of $7.55 billion for the latest quarter.
• Analysts mostly maintain a positive outlook on CarMax, with an average target price of $81.50 and several affirming "buy" or "outperform" ratings.

Hsbc Holdings PLC boosted its position in CarMax, Inc. (NYSE:KMX - Free Report) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,344 shares of the company's stock after buying an additional 12,304 shares during the period. Hsbc Holdings PLC owned approximately 0.16% of CarMax worth $18,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of KMX. Zions Bancorporation National Association UT purchased a new stake in shares of CarMax in the 1st quarter valued at $27,000. Accent Capital Management LLC acquired a new position in CarMax during the first quarter valued at $34,000. Strengthening Families & Communities LLC lifted its position in CarMax by 93.1% during the first quarter. Strengthening Families & Communities LLC now owns 531 shares of the company's stock valued at $39,000 after purchasing an additional 256 shares during the period. Ameriflex Group Inc. purchased a new stake in CarMax in the fourth quarter valued at $53,000. Finally, Colonial Trust Co SC grew its position in CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the period.

Insiders Place Their Bets

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company's stock.

CarMax Stock Up 3.7%

Shares of KMX opened at $60.0160 on Friday. The firm has a market cap of $9.01 billion, a P/E ratio of 16.58, a PEG ratio of 0.98 and a beta of 1.36. CarMax, Inc. has a 12 month low of $54.53 and a 12 month high of $91.25. The stock's 50 day moving average is $62.43 and its two-hundred day moving average is $68.90. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX - Get Free Report) last announced its earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the company posted $0.97 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. Analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stephens reissued an "overweight" rating and issued a $81.00 price objective on shares of CarMax in a report on Tuesday, August 19th. Royal Bank Of Canada boosted their price target on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Wedbush restated an "outperform" rating and issued a $84.00 price objective on shares of CarMax in a research report on Tuesday, August 19th. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $81.50.

CarMax Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.

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